Since the end of December 2018, the bitcoin rate has been on the rise again. At the same time, this means that more and more investors dare to be positive about the price. So too Dan Morehead. He is CEO of crypto investment company Pantera Capital.
He does not make any mistake: “Bitcoin is worth 42,000 dollars by the end of this year (ed .: 37,700 euros).”
Bitcoin price has returned to rising trend line
He made this statement during an episode of the Unchained Podcast. Morehead said he would stick to his own price analysis to predict the price of bitcoin.
If bitcoin can continue its rising trend, the price can rise to great heights. At the bottom of the bitcoin bear market, the value was 2,700 euros. Pantera Capital then made an analysis of the possible growth of bitcoin in the coming years, when bitcoin returns to the historical trend line.
“Bitcoin will then be $ 42,000 at the end of this year. And that sounds strange, but we are actually already halfway there, “says Morehead.
He continues: “We are back on the old trend line. At the end of this year we will earn 42,000 dollars. If you extend the trend line, bitcoin can become 122,000 dollars (red .: 109,000 euros) next year. And we go even further. In 2021, bitcoin will be worth $ 356,000 (319,600 euros) in that case. “
The market is increasingly getting used to “crazy prices”
According to Morehead, this price expectation is not at all strange: “In our first study, we wrote that bitcoin could become $ 5,000. At the time, bitcoin was worth less than a hundred dollars. Everyone said we were crazy, but a few years later these prices have become normal. “
But it can’t go fast enough for John McAfee. He expects that bitcoin is worth one million dollars on December 31, 2020. The stakes are high: on national television he would eat his genitals if this value was not achieved.
Do you want to listen to the episode of the podcast yourself? That is possible here.